There is no wonder that the market is stagnant. Until the US trade, the macroeconomic calendar is absolutely empty. Only the euro is showing tepid activity that could be considered a statistical error.
At the beginning of the US trade, traders will learn the unemployment claims figures. The number of first-time claims may decrease by 4 thousand, whereas the number of continuing claims may slide by 20 thousand. In general, the labor market condition continues improving. However, such insignificant changes will hardly influence the currency market situation. On the other hand, traders may decide to resume buying the greenback amid a positive report. Notably, the US currency is extremely overbought. How do you think which prediction will come true? Share your opinion in the Comment section.
Let us take a look at the trading charts. While rapidly falling, the euro found the intermediate support level of 1.1263. After touching this level, the euro showed a technical rebound. The euro is significantly oversold. This may have a positive influence on the volume of long positions. The intermediate resistance level is located at 1.1340, where the price got stuck. If the euro breaks the level of 1.1350, it may start an upward correction to 1.1400. At the same time, the volume of short positions is still under the influence of high speculative activity. That is why the price fixation below 1.1290 may lead to a further decline.
Meanwhile, the pound/dollar pair resumed the correctional movement after a 60-hour pause. The pair broke the upper limit of the sideways channel and began moving towards 1.3500.
If the price consolidates above 1.3500, it is highly likely to jump to 1.3570. The alternative scenario will become possible if the price drops below 1.3460.

00:00 Rally of the dollar and the interest of traders
00:17 The number of applications for unemployment benefits and its impact on the market
01:30 EUR / USD
01:59 GBP / USD


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